Mexico-based PVC pipe and specialty chemicals maker Mexichem SAB de CV is acquiring plastic pipe maker Dura-Line Corporation from private equity firm CHS Capital for US$630 million.
Headquartered in Knoxville, Tenn., Dura-Line is a manufacturer of HDPE conduit, duct and pressure pipes for telecom and data communications, energy and infrastructure industries.
Dura-Line has manufacturing facilities in North America, India, Oman, Europe, and South Africa.
“The acquisition of Dura-Line will be a further step in our strategy of becoming a global, vertically integrated chemical company with a focus on high-end specialised products and solutions,” Antonio Carrillo, CEO of Mexichem, said in a statement.
Dura-Line will continue to operate under its current management and with its existing brand portfolio.